Exchange Traded Concepts LLC Has $3.18 Million Position in Barrick Mining Corporation (NYSE:B)

Exchange Traded Concepts LLC increased its position in Barrick Mining Corporation (NYSE:B - Free Report) TSE: ABX by 3,816.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 163,639 shares of the gold and copper producer's stock after buying an additional 159,461 shares during the period. Exchange Traded Concepts LLC's holdings in Barrick Mining were worth $3,181,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of B. Capital International Investors increased its stake in shares of Barrick Mining by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after purchasing an additional 19,189,830 shares during the last quarter. Causeway Capital Management LLC acquired a new position in Barrick Mining during the fourth quarter worth $172,225,000. Wellington Management Group LLP grew its stake in Barrick Mining by 17.5% in the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock valued at $996,802,000 after buying an additional 9,598,292 shares during the last quarter. FIL Ltd grew its holdings in Barrick Mining by 236.7% in the 4th quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock valued at $105,692,000 after buying an additional 4,791,663 shares during the last quarter. Finally, Capital International Inc. CA acquired a new stake in Barrick Mining in the 4th quarter worth $57,991,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Barrick Mining Price Performance

NYSE B traded down $0.25 on Wednesday, hitting $21.11. 13,602,335 shares of the company were exchanged, compared to its average volume of 3,203,159. The firm has a 50 day moving average of $19.44 and a two-hundred day moving average of $18.03. The company has a market cap of $36.18 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.36 and a beta of 0.27. The company has a current ratio of 2.87, a quick ratio of 2.16 and a debt-to-equity ratio of 0.14. Barrick Mining Corporation has a 1-year low of $17.41 and a 1-year high of $47.50.

Barrick Mining (NYSE:B - Get Free Report) TSE: ABX last posted its quarterly earnings data on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. Barrick Mining had a return on equity of 7.51% and a net margin of 17.46%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the business earned $0.19 EPS. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities analysts predict that Barrick Mining Corporation will post 1.47 EPS for the current year.

Barrick Mining Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.40 annualized dividend and a yield of 1.90%. Barrick Mining's dividend payout ratio is currently 30.08%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on B shares. Royal Bank Of Canada lifted their target price on Barrick Mining from $23.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Wall Street Zen lowered Barrick Mining from a "strong-buy" rating to a "buy" rating in a report on Saturday. Citigroup decreased their price target on shares of Barrick Mining from $21.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. Stifel Canada upgraded shares of Barrick Mining to a "strong-buy" rating in a research note on Wednesday, March 19th. Finally, UBS Group lifted their target price on shares of Barrick Mining from $22.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.05.

About Barrick Mining

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.   In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.